General Assembly is looking into a possible sale, reports Reuters. The company’s CEO, Jake Schwartz, said it’s one of the options the coding bootcamp is pursuing, and has been talking about various routes with bankers.
This comes as the coding bootcamp industry seems to be hitting a wall. Two of the biggest programs, Dev Bootcamp and Iron Yard, closed recently. Similarly, Flatiron School was recently scooped up by WeWork.
This doesn’t necessarily mean the end of bootcamps as we know them. There is certainly still demand for the programs, but likely not at the clip originally anticipated. General Assembly is also still very highly valued–Reuters puts it at $425 million. Still, if G.A. sells, it will surely send a message to others in the industry.
Update: Jake Schwartz provided Fast Company with this statement:
Since 2011, we have attempted to be thoughtful about our sources of capital and how we fund the business. With our very strong momentum around helping large enterprises re-skill, we are able again to consider thoughtfully how we finance this exciting growth from a place of strength. As has been true throughout the growth of GA, we are fortunate to have many types of investment options, including venture capital, private equity, and/or potential M&A, with some of the world’s best investors. And of course, as has also always been true, when we field offers from investors, we work with our trusted partners and advisors to make sure we can assess appropriately.